Nissan rolls out 'Teana' in Mumbai

MUMBAI: Automobile major Nissan on Saturday launched its luxury sedan 'Teana' here and said it expects to sell 350 cars in the country this fiscal. Teana would be imported from the company's Kyushu plant in Japan and is priced at Rs 20.67 lakh, Nissan India Director Neeraj Garg told reporters. He said the company would deliver the first 20 units to Leela group of hotels. In March, Nissan announced the setting up of a manufacturing facility in Chennai with Renault and Mahindra.

M&M-Renault Logan @ Rs 4.28 lakh - Video

The much awaited product from the Rs 700 crore joint venture of utility vehicle maker Mahindra and Mahindra (M&M) and Europe's leading car brand Renault today launched the Logan sedan into the domestic market.

The car will be built at the company's Nasik facility which will have a annual production capacity of 50,000 cars a year. By July, the JV intends to bring the production under optimal utilisation, depending on the market response. The company, however, could even hike the figure.

Renault will initially import the engines for the Logan from Romania and Spain, but the company has already started its work to localise it here in India.

The car, targetted at the existing customers of the B segment and the first time buyers of the entry level C segment, is available in the price band of Rs 4.28 lakh to 6.51 lakh. It will be available in three variants; the 1.4 litre and the 1.6 litre petrol priced between Rs 4.28 lakh to Rs 5.69 lakh. The 1.5 litre diesel variant will be available between Rs 4.35 lakh to Rs 5.76 lakh. Rajesh Jejurikar, MD of the Logan project has however cautioned that the current price is just the launch price and the company may be forced to hike it if there is change in input prices.

Read more at Business Standard

Stocks you can pick up this week

M&M
CMP: Rs 731
TARGET PRICE: Rs 1,030

HSBC Securities has retained its ‘overweight’ rating on M&M with a 12-month price target of Rs 1,030. “M&M has overcome input cost pressures through a combination of factors: production in tax-free zones in H2FY06; benefits from consolidation in the tractor industry; greater contribution from diesel generator sales; the transfer of the light commercial vehicle business to a separate JV called Mahindra International; an increase in returns to scale and economies of scale after diversification into the auto parts business; and bargaining harder for raw material procurement,” the HSBC note to clients said.

Read more at Economic Times